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Another possibility sees the causality running in the opposite direction: the states that are in reasonably good financial shape as reflected by their credit rating, but also enabled by their credit rating are more sanguine about things in general, and so the voters are more willing to entertain political alternatives.
There is short run causality running from cheque payment to telegraphic transfer and card payment, as well as causality running telegraphic transfer to card payment.
We find that there is unidirectional Granger causality running from economic growth to electricity generation.
It is found that there exists unidirectional causality running from nuclear energy to GDP.
At the macro-level, results suggest long-run unidirectional causality running from electricity consumption to GDP.
We do not find reverse long-run causality running from services sector growth to electricity consumption.
The results indicate unidirectional long-run Granger causality running from electricity consumption to GDP growth.
However following studies concluded that there is unidirectional causality running from economic growth to bank's credit.
The conservation hypothesis suggests the presence of unidirectional causality running from economic growth to electricity consumption.
However, the F test indicates short-run causality running from services sector to electricity consumption.
The results show a unidirectional causality running from technological innovations to renewable energy in Denmark and Norway, and a unidirectional causality running from renewables to innovations in Sweden and Finland.
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